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Economy, Society, and History

8. From Monarchy to Democracy

The transition from monarchy to democracy deals with how humans create more freedom than is currently had. The role of monarchs in the pre-state societies and their positions as heads of state since the feudal (1100-1500 AD) period and into the absolute monarchies were the more typical form of rulers. Democracies are rare events in history.

Kings had been regarded as patriarchal heads of clans or descendants of Gods. They provided the functions of judge and protective warrior. Their powers were resisted by other noble men who had claims to their own lands. When the kings were established as states, it was realized that all that was required was there be a monopolist, not necessarily a king. Kings, as owners, were better caretakers of their countries with their interest in preserving dynastic value. Democratic caretakers have little incentive to have long range interests in the capital stock and exploit resources in the short run. No individuals in democracies ever expect to be held responsible for their actions and their debts. Democracies elect the smartest bad guys. Decent people will not be elected to higher ranks.

Lecture 8 of 10 from Hans-Hermann Hoppe's Economy, Society, and History.